- Massive renewable expansion: Deutsche Bank backs GPG’s AUD 2.3 billion financing for wind, solar, and battery projects, totaling 1 GW of operational capacity and 870 MW in development.
- Advancing sustainable finance: This marks Deutsche Bank’s 24th renewable energy financing in Australia, driving toward a 3.6 GW total in 2024.
- Comprehensive project portfolio: GPG’s assets include wind farms, solar plants, and battery storage, demonstrating diverse renewable energy solutions.
Deutsche Bank has facilitated a AUD 2.3 billion financing package for Global Power Generation Australia (GPG) to expand its renewable energy portfolio in the Asia Pacific region. Acting as the Original Lender and Hedge Counterparty, the bank underscores its commitment to sustainable finance and energy innovation.
“We are pleased to continue to extend our longstanding relationship with GPG in Asia Pacific through playing a pivotal role in this portfolio financing,” said Rachel Chia, Deutsche Bank’s Head of Project Finance for Asia Pacific.
Diverse Renewable Projects
GPG’s expanded portfolio includes six wind farms, a solar-battery hybrid, and battery storage projects. Two photovoltaic plants under construction and one solar-plus-battery hybrid project under development further solidify its commitment to clean energy. This development boosts GPG’s operational capacity to 1 GW, with an additional 870 MW in the pipeline.
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“This milestone brings us close to 3.6 GW of renewable energy projects financed in 2024 in Australia and demonstrates our commitment to sustainable finance,” Chia added.
A Global Leader in Renewable Finance
Founded in 2014 by Naturgy Energy Group and the Kuwait Investment Authority, GPG operates across eight countries, with headquarters in Spain. This financing deal builds on Deutsche Bank’s track record, marking its 24th renewable energy transaction in Australia to date.
The bank’s Corporate Banking division offers integrated solutions across project, acquisition, and corporate finance to support the growing infrastructure and energy markets.
Takeaway
Deutsche Bank’s strategic partnership with GPG demonstrates the power of sustainable finance in driving renewable energy growth. With nearly 3.6 GW of projects financed in 2024, the bank continues to shape the future of green energy in Australia.
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